Located in western Europe, there is a small yet wealthy country widely known for its chocolates. It’s also well-known for its beers, waffles, football, and more.
Can you guess which country?
That lovely country is known as Belgium!
This country was invaded by neighbouring countries during both World Wars. Because Belgium’s geographic location is very significant, it has often been used as a battlefield for wars. This nation is also known as the “Battlefield of Europe” for the same reason.
Despite all this, Belgium is now a highly developed country with a strong economy. In 2022, it was ranked 25th as the largest economy in the world, with GDP reaching USD 49,927 per capita, or 583.44 billion USD for the country as a whole.
Have you ever thought of living in Belgium? Or investment for residency purposes? Yes, you can invest a certain amount of money, and within 5 years, you can get permanent residency.
Let’s dive right into it.
What Is Belgium’s Golden Visa?
The Belgian golden visa is also known as the Belgian Investor visa. It’s a visa program where anyone can invest in exchange for residency, which may lead to citizenship after 5 years.
This program was designed to attract investors from around the world. Through the investment, the economy will flourish even more.
There is no minimum amount required from the Government; however, you will need at least 300,000 to 350,000 Euros to set up a business or invest here. Your investment may fluctuate in the years to come. However, if you plan to start a business in Europe, this visa program is ideal for you.
The Belgian government approves the visa on a case-by-case basis. There is no real estate route available; you can only take the business option.
Initially, you can get the visa for a year, but you can renew it for the same term. After 3 consecutive renewals, you can get permanent residency. If you can maintain your investment for 5 years, you can subsequently apply for citizenship.
But to get citizenship, you must prove how knowledgeable you are about the nation’s laws, and you must pass the language exam of one of the three official languages — German, French, and Dutch.
Benefits Of The Golden Visa Belgium
Getting this golden visa might be your golden ticket to live the European dream. The country has strong infrastructure, a rich culture, a high quality of living, and more.
- You can live and work here legally with your whole family. That includes your spouse and children under 21.
- There is no minimum number of days’ requirement for you to reside here.
- You can travel freely within 28 Schengen countries.
- You will get access to excellent healthcare. It has been ranked as 9th in the World Index of Healthcare Innovation.
- Possibility of future citizenship.
- This country offers its citizens high standards of living.
- You don’t need to have any prior business experience.
- The education system of Belgium is praiseworthy. As a resident, you can even study here.
- There is no tax if you don’t stay longer than 180 days.
- Your family will enjoy the same benefits as you.
Eligibility Check For Golden Visa Belgium
There are specific criteria which need to be met. If you are eligible, only then can you apply for the golden visa.
- You have to be over 18.
- No prior criminal record.
- You have to be financially solvent.
- You must demonstrate that you are in good health.
Investment Option For Golden Visa Belgium
In order to invest in Belgium, you have only 2 options. As we mentioned before, there is no real estate option, you have to either-
- Open your own company there, in this way, you are directly involved in job creation. This business can be anything from restaurants to tech startups. You have to have a physical office there.
- Invest your money in any existing Belgian company; the minimum investment can be 300,000 euros. The amount is not certain, but the authority will thoroughly review your business plan, job creation, and assess how much your investment is having a positive impact on the economy.
Documents Requirement For Golden Visa Belgium
Now that you know the investment options, it’s time for you to know how many documents you need to apply. Although documents can vary from country to country, generally you might need-
- Valid passport.
- Proof of your financial funds is required to demonstrate your ability to invest and support yourself and your family during your stay.
- Health insurance.
- Proof of accommodation in Belgium.
- Police clearance certificate.
- Proof of a medical / health check-up by a doctor that is recognised by the Belgian government.
- If your family is accompanying you, you will need to showcase your marriage certificate and the birth certificates of your children (under 21 years old).
Please note that if your documents are not in English or Dutch, you must have them translated by an approved translator and legalised locally.
Application Process Golden Visa Belgium
Did you decide on how you will invest in Belgium? Now it’s time for you to begin your application process.
- Submit your documents to the nearest Belgian Embassy or consulate in your home country. You must have a solid business plan and demonstrate that you have the financial capability for the investment.
- Now, make your investment, register your new business, and submit relevant documents, such as your company registration agreement.
- Pay your visa fee.
- Move to Belgium and run your business there.
- After 5 years, apply for citizenship. Voila, you are a citizen now.
The process can take around three months, but it takes longer because each application is being carefully reviewed.
Cons Of The Golden Visa Belgium
There are numerous benefits to obtaining a golden visa, but there are also some drawbacks.
First of all, there is no real estate option, unlike other golden visa programs.
Secondly, the investment risk is that your investment can also fail; it’s also challenging to maintain the investment over the years.
Thirdly, you have to pay taxes if you intend to stay longer than 180 days a year.
Lastly, the application process takes longer than other golden visa programs. The process can be complex and time-consuming. Your application might get rejected. Moreover, it’s not an easy visa to get.
Frequently Asked Questions – FAQ
How much do I need to invest?
There is no minimum amount; however, you will need at least 300,000 to 350,000 euros to set up any business or to invest in any business here. Your investment may fluctuate in the years to come.
Can I bring my family with me?
Yes, you can, your spouse, your children under 21, your parents or your grandparent (if they are under your care) can accompany you.
How long is the application process?
It can take around three months.
Can non-EU citizens apply?
Yes, they can; this visa program is open to all nationalities.
How many days do I need to stay in Belgium each year?
You don’t have to. There is no minimum requirement.
For how long is this golden visa valid?
Initially valid for a year, it can be renewed for an additional 2 years.
Do I need to pay taxes in Belgium?
No, unless you live in Belgium for more than 180 days.
How can I renew my residence?
You have to do it from Belgium. However, please note that you should do this 30 days before the expiration date.